Boeing Names New Chairman & CEO Amidst a Confidence Crisis Prevailing In a Sudden Turn of Events


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Independent Tech & news media Writer

Dec 25, 2019, 10:30 EST


Elkland, United States, Dec 25, 2019, 10:30 /Comserve / -- Boeing’s Board appoints a new Chairman and CEO into the board, to take stock of the situation and ensure better communication and transparency levels with all the stakeholders, including regulators and customers.

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The Board of Directors of Boeing (NYSE: BA) on Monday appointed the current serving Chairman David L. Calhoun as the new CEO and President of the Company, as part of their efforts to tide over a crisis that had set in, ever since the deadly crashes of two of its Boeing 737 Max planes over the last one year. Billions of dollars have been lost over the last six months, with the regulators putting Boeing’s operations on hold temporarily. This was seen a drastic move by Boeing, considering the gravity of the situation involved, with more and more details becoming public about their ability to handle the system that cost several human lives. The relationship with Federal Aviation Administration that oversees and investigates these accidents was being seen as taken a beating earlier. The importance of bringing back complete faith among the stakeholders was necessary, that includes developing smoother relationships with the regulators and other stakeholders.

Greg Smith, the present Chief Financial Officer is expected to serve temporarily as the CEO during the transition period. Mr. Calhoun is expected to finish his other commitments before formally joining as CEO. The Board has decided to appoint another Board member Lawrence W. Kellner to serve as the Non-executive Chairman with immediate effect. Mr. Kellner had commented that he was pleased to welcome David L. Calhoun to take the charge during such period of crisis. He further stated as follows: “Dave has deep industry experience and a proven track record of strong leadership and he recognizes the challenges we must confront. The Board and I look forward to working with him and the rest of the Boeing team to ensure that today marks a new way forward for our company.”

Independent Tech & news media Writer


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Independent Tech & news media Writer
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